by Kelly G. Black | Apr 16, 2020 | Uncategorized
Many have heard the news that coronavirus relief payments had begun arriving and wondered what happened to their checks. If you have wondered where your coronavirus relief check is, there are a couple of possibilities. Scenario 1: You did not file a tax return in 2018...
by Kelly G. Black | Apr 8, 2020 | Uncategorized
I often meet with people who receive harassing phone calls from debt collectors. These clients often ask me, “what do i do if a debt collector won’t stop calling me?” In the long term, the debt will need to be paid, settled, or discharged in...
by Kelly G. Black | Apr 3, 2020 | Bankruptcy, Repossession
“Will I lose my house if I file for bankruptcy?” We hear this question often in our office. One of the main concerns I hear from people facing bankruptcy is whether they will lose their home. The answer to this question comes in several parts. The...
by Kelly G. Black | Mar 31, 2020 | Bankruptcy, Repossession
A common question that gets asked at our firm is, “What do I do if my car gets repossessed?” If a creditor has repossessed your vehicle, you have some options, but will need to act quickly to preserve your rights. Was the contract breached? First, you...
by Kelly G. Black | Mar 28, 2020 | Bankruptcy, Garnishment, Settlement
Many people have asked me, “What do I do if my wages are garnished?” If a creditor garnishes your wages, there are some simple steps you can take to protect your rights. Were you expecting a wage garnishment? First, a wage garnishment is not supposed to...
by Kelly G. Black | Oct 27, 2016 | Cash Collateral, Using Cash Collateral to Maintain Collateral
Another argument for approving operating expenses more readily than other uses arises under state law. Under the state law or the contract, a creditor’s interest in the cash collateral may extend only to the net rents or net proceeds or, alternatively, the...
by Kelly G. Black | Oct 25, 2016 | Cash Collateral, Using Cash Collateral to Maintain Collateral
One of the reasons that operating expenses can be approved more readily than other uses is that the spending itself preserves the value of the collateral. This is a bankruptcy-specific question: whether the proposed use of cash collateral “provide[s] adequate...
by Kelly G. Black | Oct 25, 2016 | Cash Collateral, Using Cash Collateral to Maintain Collateral
When a debtor seeks permission to use cash collateral, “operating expenses” can be approved more readily than other uses. In this context, the term “operating expenses” is tied to the collateral. I use it as a shortcut for the more precise...
by Kelly G. Black | Oct 23, 2016 | Cash Collateral, Using Cash Collateral to Maintain Collateral
One of the less controversial uses of cash collateral is cover reasonable and necessary operating expenses relating to the underlying collateral. This type of spending maintains the value of income producing collateral and of the cash collateral stream itself. For...
by Kelly G. Black | Oct 20, 2016 | Cash Collateral
One of the earliest issues a debtor faces in bankruptcy is securing approval to use money. A chapter 11 bankruptcy filing prohibits creditors from acting against the debtor, but it also requires the debtor to secure approval to use certain funds which are subject to...